Credit Risk Retention by Securitizers

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
1557-0249 Credit Risk Retention final.docx	Supporting Statement A	Uploaded 2014-12-08	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
213554	Underwriting Standards for Qualifying Automobile Loans		New
208250	Underwriting Standards for Qualifying CRE		Modified
208249	Underwriting Standards for Qualifying Commercial Loans		Modified
208248	Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans		Modified
208247	Exemptions for Qualified Residential Mortgages		Modified
208246	Allocation of Risk Retention to an Originator		Modified
208245	Qualified Tender Option Bonds		Modified
208244	Open Market CLOs		Modified
208242	FNMA and FHLMC		Modified
196604	Commercial MBS		Modified
196479	Eligible ABCP Conduits		Modified
196478	Revolving Master Trusts		Modified
196477	Combined Horizontal and Vertical Interests		Modified
196443	Standard Risk Retention - Vertical Interest		Modified
196439	Standard Risk Retention - Horizontal Interest		Modified

ICR Details

OMB Control No: 1557-0249	ICR Reference No: 201410-1557-003
Status: Historical Active	Previous ICR Reference No: 201308-1557-001
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Credit Risk Retention by Securitizers
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/08/2015
	Date Received in OIRA: 12/24/2014
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2018	36 Months From Approved
Responses	182	0	0
Time Burden (Hours)	3,451	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The OCC, FRB, FDIC, SEC, FHFA, and HUD have issued a final rule to implement the credit risk retention requirements of section 15G of the Securities Exchange Act, as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under the rule, the securitizer of asset-backed securities must retain a minimum of 5% of the credit risk of the assets collateralizing the asset-backed securities. The rule includes a number of recordkeeping and disclosure requirements. The OCC submitted ICRs in connection with the two proposals that preceded this final rule. OMB instructed OCC to examine public comment and resubmit at the final rule stage. This is the requested resubmission.

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Authorizing Statute(s): Statute at Large: 124 Stat. 1891 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act
  

Citations for New Statutory Requirements: Statute at Large: 124 Stat. 1891 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code: 15 USC 78o-11 Name of Law: The Securities Exchange Act of 1934

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AD40	Final or interim final rulemaking	79 FR 77602	12/24/2014

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 15

table that charts list of burden

IC Title	Form No.	Form Name
Underwriting Standards for Qualifying Automobile Loans
Open Market CLOs
Qualified Tender Option Bonds
Allocation of Risk Retention to an Originator
Exemptions for Qualified Residential Mortgages
Exemptions for Qualifying Commercial Loans, Commercial Real Estate Loans, and Automobile Loans
Underwriting Standards for Qualifying CRE
Standard Risk Retention - Horizontal Interest
Standard Risk Retention - Vertical Interest
Combined Horizontal and Vertical Interests
Eligible ABCP Conduits
Revolving Master Trusts
Commercial MBS
Underwriting Standards for Qualifying Commercial Loans
FNMA and FHLMC

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	182	0	182	0	0	0
Annual Time Burden (Hours)	3,451	0	3,451	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden is due to the fact that this is a new collection.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Yes

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 12/24/2014

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